In a pioneering move this week, Lowe’s is flying high in the cutting-edge world of NFTs. The home improvement titan launched garden flags featuring and granting access to characters from the established Mfers NFT project.
Quick Takes:
- Lowe’s ventures into Web3, blending conventional retail with blockchain technology by utilizing Mfers NFTs under a Creative Commons (CC0) license.
- Joining forces with Total Marketing Web3 (TM3), Lowe’s transforms Mfers NFTs into tangible flags that link to the digital assets.
- The ‘seizen #1/edition #1’ flags offer a cost-effective entry into the digital asset market in a bid to connect with younger, tech-savvy demographics.
Lowe’s Mfers Collaboration
Encapsulating how traditional businesses can leverage blockchain technology through the CC0 license, Lowe’s first stop into the Web3 realm enables flag buyers to utilize Mfers NFTs for commercial purposes.
Mfers, the brainchild of the secret artist Sartoshi, is a captivating project that fuses art and digital technology. Taking inspiration from the “Are ya winning, son?” meme, the project showcases a slew of distinctive hand-drawn characters. What’s more, Sartoshi gave up ownership of the project’s smart contract to the community in June 2022, which opened the doors to commercial applications.
Paving Mfers and Lowe’s innovative partnership are the founders of TM3, Stephen Thompson and Matthew Varnell. Together, they transformed the digital artworks of Mfers NFTs into physical merchandise.
Varnell’s position as a manufacturer’s representative facilitated the partnership with Evergreen, a respected manufacturer with long-standing ties to Lowe’s.
Consequently, the fruits of their vision created the Evergreen Sizenals garden flag ‘seizen #1/edition #1’, measuring 1 foot in width and 1.5 feet in height. The tangible product features two Mfers NFT characters leisurely sipping drinks on a sun-drenched beach:
The limited-edition run of 1,000 flags link to a replica NFT, redeemable for $39.98 on Lowe’s website. This is a generous price considering the digital assets trade for $1,000 apiece, despite the original minting cost being $320 (0.069 ETH). Hence, the meme-NFT projects high record of $125 million sales on OpenSea.
Lowe’s Mfers NFT initiative presents how traditional industries can utilize blockchain technology to resonate with a younger, tech-savvy audience. Furthermore, as TM3 looks to the future, the firm plans on enriching its offerings by allying with other CC0 NFT projects to create a range of seasonal items.
Source: NFT Lately
